Stock chart patterns and technical analysis (TA) explained simply. Disclaimer: This blog and all its contents are for educational and entertainment purposes only. Do not trade or invest based on any information seen on this blog. Please read Terms of Service. VIEW IN GOOGLE CHROME BROWSER. DISABLE YOUR ADBLOCK SOFTWARE.

Thursday, July 9, 2015

SPX price is playing around the following key moving averages;50-day MA 2102100-day MA 209620-day MA 209320-week MA 2093200 EMA on 60-minute chart 2092150-day MA 207910-month MA 2061200-day MA 205612-month MA 2049SPX begins at 2049 on 7/9/1550-week MA 2045You can easily gauge the strength of the rally by how many resistance levels are taken out. The 12-month MA at 2049is the cliff edge in the markets. Extremely bad things happen under 2049. The 10-month MA at 2061 is key and bears need to hold this level to stop the upside rally. The 150-day MA at 2079 is another very key level so if 2061 is taken out the next fight will be at 2079. Bears are fine as long as the SPX remains under the 200 EMA on the 60-minute chart at 2092 which signals bearish markets for the hours and days ahead.Bulls take over with a confirmed and more sustainable upside rally if the 2092-2093 gauntlet is pierced.The daily chart above shows the various daily moving averages. The red lines show the neggie d spankdowns off the price tops. The green lines show positive divergence which bounced price in late June and today, however, note how the MACD line remains weak and bleak wanting to see another low in price after a relief bounce occurs. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.

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Do not invest based on anything you view or read on this blog. This blog is for educational and entertainment purposes only. Consult your financial advisor before making any investment decision. Please read the Terms and Conditions.